Which information specifies the efficiency of the management’s stewardship?. a. Efficiency in using the resources of the company b. Age of the people in the management c. Number of Bank accounts maintained by the company d. List of Properties owned by the company

Q: Which statement regarding management accounting is true ? Select one: O a. Management accounts are…

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Q: mechanical aspect of accounting

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

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Q: Defining internal control Internal controls are designed to safeguard assets, encourage employees to…

A:

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A:

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.